ABOUT

The time has come to give back to the people around you. The time has come to merge business acumen with a tinge of entrepreneurship skills, to pave way for a better world. Rather than leaving society's needs to the government or business sectors, devise a way to alleviate social evils, poverty, agricultural deficits, unemployment, illiteracy, etc. Bring forth your idea to cover the loopholes in the life of a common man and we'll give you a chance to make this idea a reality.

Compete to solve the world’s toughest challenges. UpStart Socha aims to create a platform to a rigorous evaluation and launch the most compelling social business ideas – start-up enterprises that tackle grave issues faced by billions of people.

  • Two Step Registration:

    All participating startups have to register via two step process.The participants need to fill the concerned details and top startups will be shortlisted for the Final Round Mentoring sessions, to be held in IIT Kanpur during eSummit'17.

  • Intensive Mentoring Sessions:

    Ten shortlisted startups will have a Two-Week mentoring session with our esteemed mentors where they will get to discuss their ideas and business plans to build a proper legal, operational and structural framework. This will be followed by intensive face to face mentoring and brainstorming sessions with a VC from the panel of Socha. Along with invaluable advice from one of the most experienced Entrepreneur-cum-Mentors in the country, startups also get to enhance their network manifold with help from them.

  • Elevator Pitch:

    The teams have to pitch their summary to an independent panel in under 200 seconds. It is a prerequisite to the finale and will be held in campus on 2nd September. It has a 20% weightage in the total evaluation. The best pitches will also receive a cash prize.

  • Final Pitch:

    The participating teams have to make a ten minute presentation in front of our panel of judges on the 3rd of September at IIT Kanpur. The presentation will comprise of a 7 minute pitch followed by a 3-4 minute QnA round.


JUDGING CRITERIA

  • Concept
    • Originality of Idea.
    • Scalability, in terms of the potential for growth and replication of the venture.
    • Well-conceived implementation plan and timetable.
    • Overall likelihood of achieving demonstrable results
  • Market
    • Evidence of demand for the venture in the marketplace; market size and growth opportunity.
    • Demonstrated knowledge of target market
    • Competitive analysis , SWOT analysis
    • Marketing Plan addresses (wherever applicable): positioning, pricing, advertising, promotion, packaging, timetable.
  • Performance Benchmarks
    • Outline the development of systems to track, monitor and assess the performance milestones articulated in venture plan
  • Financial Aspects
    • Fundability: The potential for the venture to receive financial support from additional investors/donors(including opportunities for funding from foundations, social venture funds, angel investors and venture capitalists)
    • The rigor and feasibility of the venture's financial model and goals
    • Potential for follow-on funding to grow the venture through self-sufficiency or profitability.
  • Social Value Proposition
    • Integration of Social Impact in business model: Impact scales as company grows.
    • Venture generates social value beyond current state or next best available option .
  • Social Impact Assessment
    • Venture is supported by a well-articulated theory of change and impact value chain.
    • Team has designed a clear and feasible plan for measuring and evaluating social impact.
  • Risk Assessment and Contingency Plans
    • Identify risk factors associated with the enterprise and external environment. Develop a plan for mitigating them.

  • Demonstrated Leadership Ability
    • Quantify venture leader's ability to develop people, promote change and achieve results
  • Improvement
    • Improvement in the business plan from original proposal, post the mentoring session, will be taken into consideration.

ELIGIBILITY

As Upstart is a competition meant only for initial phase startups, we have put the following criteria for entry into the Final Round:

  • Only businesses with a for-profit model are eligible.
  • Your business must have a social impact.
  • Your enterprise must have a prototype of its product or service and has conducted a significant number of pilots in the field, or must be already in operation. It must have conducted one pilot at least.
  • Enterprises which have been in operation for more than 3 years from the date of the incorporation will not be considered.
  • Submissions may be entered as individuals or teams (max 3). Only the individual or the team members who have registered may pitch to the panel of judges and answer questions.
  • You must apply online and be present to pitch. You will be notified ahead of time if you are selected to pitch.

Timeline

SoCha Launch

June 19

Deadline for Online Registration

July 31

Results

August 4

Mentor Connect

August 6

Two Weeks Mentorship Commencement

August 7 - August 21
   

Grand Finale at IIT Kanpur

September 2 - September 3

ABSTRACT FORMAT

Guidelines:

  •    All participants are required to Register via a two step prcoess online.
  •    Incase participants omit one of the steps of the registration procedure, they shall be disqualified.
  •    This year we are not accepting any submissions via mail or offline.
  •    You must separately register for eSummit '17, if you have not yet done so.

Terms And Conditions

  1.    It is mandatory for participants to register online for eSummit ‘17.
  2.    NO offline submissions for SoCha will be    accepted.
  3.    Contestants are free to participate in other business plan competitions as well.
  4.    Entries submitted after the deadline shall not be considered.
  5.    Entries need to have an innovative value (an innovative idea provides a solution for a    new need, or advancement compared to existing products, services or technologies).
  6.    The confidentiality of the entries/ideas is guaranteed.
  7.    The registration form and entries of the teams shall not be returned and their    personal data will remain available only for statistical purposes.
  8.    Entries remain the property of their legal owner.
  9.    All conflicts are subject to jurisdiction of Kanpur courts only.

Manasi Tripathi
Head, Events
+91-7579224452
[email protected]

Shubham Jain
Head, Events
+91-7985430213
[email protected]

Gourav Patidar
Head, Events
+91-9151636052
[email protected]

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